Extremely Constructive Meeting of the FB&H Government with the Aluminij’s Board of Directors

Aluminij Mostar

CEO of Aluminij d.d. Mostar, Mario Gadžić, together with the closest associates from the Board and Supervisory board of the Company was a host to this very successful meeting with the FB&H Prime Minister Fadil Novalić, Deputy Prime Minister and Minister of Finance Office Jelka Miličević and Minister of Energy, Mining and Industry in FB&H Government Nermin Džindić, who came to the Mostar factory with the team of advisors. An hour and a half meeting was entirely devoted to reviewing the current business status of Aluminij, with an emphasis on what has been done since September last year (the appointment of the current Board) to present and on future moves that will speed up the restructuring and recovery of Herzegovinian giant, which can play a key role in the Government of FB&H.

- It was important for us, as representatives of the FBi& Government, which is the largest single co-owner of Aluminij, to come to Aluminij and to listen from the first hand, which are the issues in which we can be of assistance – said specifically President Novalić, pointing out that he and his ministers have undivided positive consensus when it comes to Aluminij dd Mostar.

The first people of Entity authorities expressed a clear understanding of the current state of business and the difficulties that continue to burden Aluminij, and along with many helpful advices and expressed willingness to officially support the initiatives prepared by the Aluminij Board, they announced the written support to the proposal to abolish the customs rate on unalloyed aluminium which Aluminij Mostar presented to the Council of Ministers of B&H.

- When the FB&H Government was established in this form, it all indicated that Aluminij got to the death end. Now we can finally tell you how we see changes and how we recognize knowledge and essential perseverance, also clearly set goals and the right way to reach those goals. As for Aluminij, we have a consensus on the obvious ambition to support you where we can, and we are also bound by the fact that you are truly the guardian of our energy sector, that you are a big exporter, that you have 900 jobs and that a whole host of smaller businesses depend on you - said Deputy Prime Minister Miličević, with the clear approval of President Novalić and Minister Džindić.

Apart from the unalloyed aluminium, the participants of this extremely constructive meeting, with a precise presentation by CEO Gadžić, get to the topic of existing state subsidies, from the highest network fee in this part of the world, to excessive fees for renewable energy sources, exchanging data on the financial restructuring process also, and on settlement of inherited debts as well as strategic plans for further development of production and business.

Commenting on the obvious positive moves in the first five months of the current year, especially in relation to the previous years and the accumulated loss, Minister Džindić spoke on the possibilities of solving part of the inherited liabilities by recapitalization, offering concrete assistance in attracting foreign investors, firstly to disburden Aluminij on a vital issue of electricity supply.

- I am very pleased with today's visit, because of the concrete arrangements and demonstrated knowledge of our issues by the esteemed Prime Minister, Deputy Prime Minister and the Minister, as well as the clear identification of how we can work together. Today, the government has also given a specific person from the ministry responsible for continuing communication with Aluminij, which will be of great help in properly channelling what our owner needs to know and how the owner can help us - Mr Gadžić was pleased.

Aluminij Mostar
Aluminij Mostar
Aluminij Mostar
Aluminij Mostar
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